Enext Brussels: 50 shades of green
WDP scores a green first: it is the first Belgian real estate company to join the Dow Jones sustainability index. Avantium proves again that one green is not the other.
The problem of the duration and severity of the current price storm puts the markets in a stalemate on Wednesday. In the midst of flaring discussions about the outward investors, the cat is even out of the woods. Like the Fed last week, the ECB also receives for a self-created risk: ‘Real estate prices are overvalued.’
The Bel20
drops 0.1 percent to 4,296 points shortly in the afternoon and is therefore slightly weaker than the European medium (+0.05%).
KBC
can put an end to a firm losing streak where it became 8 percent lighter in a week.
“An overreaction from investors,” said Benoit Petrarque, an analyst at Kepler Cheuvreux. “We have revised earnings estimates and expect revenues to grow faster than costs. Moreover, the fear of major takeover deals has been exaggerated, now that the hunger in Bulgaria has been satisfied with the deal.’
“We estimate that at the end of 2021, KBC will have capital over 1.9 billion in surplus capital, cash that can be distributed over the 2022 financial year.”
Kepler profit, the price target to 917 euros. KBC can strengthen 1.5 percent to 78 euros.
That same acclaim falls aperam not turn. The stainless steel producer has to take another 2 percent loss and has been 12 percent lighter in market value since the Armistice.
GBL
gathers in Paris where it gives investors an insight into the recent turbo on the private leg, which now accounts for a quarter of the entire portfolio. With a sense of timing, the Frère-Desmarais holding has linked Paris with a novelty: it has started with the acquisition of the private asset manager Acofi. If the deal goes through, GBL’s private equity arm Sienna would manage approximately EUR 34 billion in assets. Last summer it was only 7 billion.
GBL has to give up 0.3 percent at its investor jamboree.
In addition to a sizeable subsidy, the Dutch-Belgian developer of bioplastics is taking advantage of the European Innovation Fund’s pot.
WDP
can boast a green scoop. On November 22, the logistics real estate specialist will be allowed to join the Dow Jones Sustainability Europe Index (DJSI Europe). This index contains 147 European ‘guide companies’ from various sectors in the field of sustainability.
WDP may join based on a recent assessment by S&P Global. There it achieved a sustainability score of 63 out of 100. It therefore outperforms 90 percent of the assessed companies. WDP is the first Belgian GVV/SIR that can join the sustainability index.
broad market
Avantium
a rookie – er – blue at the European Directorate for Climate Action. In addition to a sizeable subsidy, the Dutch-Belgian developer of bioplastics is taking advantage of the European Innovation Fund’s pot.
Avantium’s YXY technology, to develop circular biopolymers, was not retained.
“We don’t think this is a reflection on how the YXY technology works,” writes ING analyst Reg Watson. There is bias in the EU. The seven selected projects are all energy related. Biopolymers are clearly not high on the European climate agenda.’
Five of the selected projects revolve around hydrogen, one around biomass and one around solar power. The Commission encourages unsuccessful applicants to apply. The second round will run until March 3. Avant has not yet decided of participating.
Competition was fierce and the market had not expected an award to Avantium either. The exchange rate loss is limited to -0.9 percent to 3.9 euros.
They’re late to the party, but that doesn’t detract from the excitement. The Berenberg stock exchange begins the succession of Shurgard
with a buy recommendation and a price target of 62 euros. Analysts Kai Klose and Nithin Kumar Devaraj praise the storage specialist for its defensive profile and low leverage.
‘Shurgard benefits from urbanization in large parts of Europe. It can rely on economies of scale and operational leverage,” said the pair. ‘The market for self-storage is not yet highly fragmented in Europe. That gives Shurgard a lot of opportunities to grow through acquisitions.’
Analysts see a return of 2.4 percent and a dividend yield of 1.8 percent next year. They expect the 25 value per share to grow 45 percent.
Shurgard was even able to hit a record price, but did not keep the profit. The storage specialist leaves 1 percent to 55.8 euros.
eye-catcher
The European stock markets are stalling pending more clarity on the strength and length of the current price storm. In Brussels, Care Property Invest registered a capital increase through the contribution in kind. Other real estate companies are also in the spotlight: buying advice, WDP has a place in a working sustainability index.
At the end of the season, 6 inhabitants of Brussels will provide a quarterly update: Inclusio, Gimv, IBA, Home Invest Belgium, Atenor and EVS. India is gearing up for Paytm’s IPO, the largest ever IPO in the country. Alibaba’s number cave opens in China.